Silicon Valley’s hoover leaves newspapers hunting for profit

Dominance of Facebook and Google has seen print ads plummet and newspapers' once-bright digital future recede

The boss of the media firm Vice has predicted a "bloodbath" in the industry this year - and, judging by the investor panic that attended the Daily Mail's latest results, Shane Smith may be right.

Investors took fright at a 16% drop in print advertising revenues at the Daily Mail and Mail on Sunday in the six months to the end of March, sending parent company DMGT's share price tumbling by 13%.